Quarterly report pursuant to Section 13 or 15(d)

Note 7 - Patents

v3.21.2
Note 7 - Patents
6 Months Ended
Jun. 30, 2021
Notes to Financial Statements  
Goodwill and Intangible Assets Disclosure [Text Block]

NOTE 7 — PATENTS    

 

   

June 30, 2021

 
    Cost     Accumulated Amortization     Net  

Patents-foundation intellectual property

  $ 1,377,863     $ (1,071,319 )   $ 306,544  

Total

  $ 1,377,863     $ (1,071,319 )   $ 306,544  

 

   

December 31, 2020

 
    Cost     Accumulated Amortization     Net  

Patents-foundation intellectual property

  $ 1,377,863     $ (1,048,614 )   $ 329,249  

Total

  $ 1,377,863     $ (1,048,614 )   $ 329,249  

 

Patents are amortized utilizing the straight-line method over estimated useful lives ranging from 3 to 20 years. Amortization expense was approximately $11,000 and $22,000 for the three and six months ended June 30, 2021, and  2020, respectively